Recall that we used the conjugate gamma prior for , the arrival rate in busses per minute.

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Recall that we used the conjugate gamma prior for , the arrival rate in busses per minute. Suppose our prior belief about this rate is that it should have mean 1/20 arrivals per minute with standard deviation 1/5. Then the prior is Gamma(a,b) with a=1/16. Find the value of b. Round your answer to two decimal places

Posted Date: May 18, 2024 07:07 AM

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Recall that we used the conjugate gamma prior for , the arrival rate in busses per minute.

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